Keywords: customer attrition, machine learning models, data analytics, customer profiling, data extraction, value-based segmentation, retention improvement, business growth, actionable insights.
Fleetcor Technologies, a global leader in fuel cards and workforce payment products and services, was facing a challenge. Operating in over 100 countries with a workforce of more than 9,000 employees, Fleetcor conducts over 1.6 billion transactions annually and generates a turnover of approximately $2.8 billion. Despite these impressive figures, the company was grappling with customer attrition across their Europe, USA, and AUNZ regions.
As a longstanding client of Beyond since 2018, Fleetcor sought our expertise. In a highly competitive market, retaining valuable customers is critical to sustainable growth, and Fleetcor needed a sophisticated, data-driven approach to predict and mitigate customer attrition.
At Beyond, we believe in putting data to work. We collaborated with Fleetcor and embarked on a comprehensive journey to address customer attrition through machine learning models and data analytics. First, we extracted all of Fleetcor's customer and transaction data from their data lake, cleansing and preparing it for rigorous analysis. Utilizing this comprehensive dataset, we profiled each customer based on their behaviors and product usage, enabling us to identify patterns and traits associated with attrition. We developed an automated attrition prediction model using machine learning techniques, allowing Fleetcor to proactively identify customers at risk of attrition. We also developed a value-based segmentation strategy, empowering Fleetcor to prioritize retention efforts effectively.
The results were significant. Our predictive model increased the window to respond to potential attriting customers from just two weeks to over six months. Our value-based segmentation approach led to an 18% reduction in attrition within higher-value customer segments.
Our tailored solutions enabled Fleetcor to not only identify and address customer attrition but also prioritize their efforts effectively, resulting in significant retention improvements. Through our collaborative approach and dedication to putting data to work, we were able to drive meaningful business outcomes for Fleetcor.
At Beyond, we believe that data is more than just numbers—it's a powerful tool that can drive business growth. By partnering with our clients, we transform data into actionable insights and deliver tangible outcomes for their businesses. If you're ready to see how Beyond can transform your data into valuable insights, contact us today.